The news coming out of Cyprus only gets worse.
It was bad enough that the political class even promoted the idea of STEALING depositors’ savings. But now we’re finding out that they lied time and again about how much they’d take.
Initially the plan in Cyprus was the following:
- Simply TAKING 6.75% of ALL savings accounts up to the official insurance limit of €100,000
- A 9.9% levy (THEFT) on all deposits above the official insurance limit of €100,000. Continue reading